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Unformatted text preview: • Ability to keep out competition • Transfer it over to an organization that sells or controls the supply of labor service. • Pay dues with an idea that there will be an economic benefit • When a union might be more than a social club Economic Rent – a type of income • One characteristic that it has • A form of income that is over and above what is necessary to illicit the productivity of that input • Started with land 16:08 16:08...
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- Fall '07
- Economics, Economic rent, Economic of Labor Unions, Net Worth= wealth, human capital Wealth